Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Mark Davis who wrote (1874)	3/21/1999 9:13:00 PM
From: Ken Wolff	Read Replies (1) of 2120

Hi Mark, I have seen the cycle of hyping for many years on the net. New gurus establish reputation by hyping a selection of stocks. They will tout the 2 or 3 that really ran up big. New traders often fall for the hype without knowing the record of the hyper and begin to follow his calls. The hypsters depend on new traders following them to build a small amount of momentum and they make money on their own calls. Eventually new traders who believed the stock would climb fantastically are left holding the bag while the guru gets out with nice and consistent profits. Please read my "Fleecing of the Flock" article: mtrader.com to learn more about this type of hyping. Bottom line is: Never follow anyone blindly into a trade. Successful daytraders develop their own expectation and trade predictable patterns based on solid trading methods and a disciplined approach--not a blind leap of faith in a "guru" with a track record built on after-the-fact trades! Ken www.mtrader.com

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